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Ladco LeasingRE: Month Charging from Cking Acct

It has come to my attention that Ladco leasing has been charging me a fee every month for the last to be safe 4 years at $37.00 plus dollars and then for Nov. & Dec. over $60.00 a month. I, closed my business in 2003 and they are still Charging me this fee. I, recently sent the machine back to a address in Knox Ville
Tn. They were able to deduct another monthly fee. I, was told when I closed my
Business that I, owned the machine and that my monthly payments that i, made
Had paid the machine off. Help someone help! They will never be able to collect
Any more fee's from me!!!

Responses

  • Lu
    LUIS kim Mar 04, 2011
    This comment was posted by
    a verified customer
    Verified customer

    We will start the class action suit. Now we are gathering more people.
    Please be a part of us and contact me at [protected] or [email protected]
    You are not alone. Don't give up.
    If you have been scammed by Payment systems, Azura or Ladco, please contact me.

    0 Votes
  • Ra
    Randy WF Feb 21, 2011

    THANK YOU SOOO MUCH FOR THE INFORMATION. SO WE'VE CLOSED OUR ORIGINAL ACCOUNT AND OPENED A NEW ONE. NOW WE ARE GETTING THE THREATENING LETTERS FROM "COMMERCIAL COLLECTION OF AMERICA" STATING THEY ARE GOING TO SUE US FOR $6700.00 ON A CONTRACT THAT WE DIDN'T EVEN REALIZE WE HAD!
    WHAT DO YOU KNOW ABOUT THIS COLLECTION COMPANY THAT LADCO IS USING?

    0 Votes
  • Ze
    Zeta155 Jan 26, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I would recommend not to bother with a class action suit. The agreement that you signed was written essentially to negate contractual action suits against the company. However, one way to override this hassle would be to close, and re-open a new account. It may seem like a big pain, but without your information they would no longer be able to draft your account. Hope that helps! Best of luck!

    0 Votes
  • Ch
    ChadCrandall Jan 26, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I'm another victim. Does anybody know of a class action suit against these guys?

    0 Votes
  • Ze
    Zeta155 Oct 26, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Want out of this Ladco Scam?

    Lets start with some Ladco history.

    Back in November 2009, Ladco Leasing was purchased from a man named Leon Ladd by Elavon Merchant Services. Elavon DOES own Ladco, even though 9 times out of 10, they will tell you different. (Also, both of these companies are owned directly by U.S. Bank, so any line of credit or open accounts with US Bank can and will be drafted.) Many employees in Ladco were actually trained by Elavon, but training was all based on "need to know". Most Elavon employees don't even know they work in the same building as Ladco employees. Each side of the fence is told to direct your complaint to the other, mostly because no one wants to hear complaints all day. Sales people are trained strictly to make a sale and move on. Typically you will deal with customer service after the first interaction with your sales person. The fact that most customers that sign up for these services are typically rushed through review and signing of the lease agreement does make the ability to imply that you didn't read what you signed readily available to Recovery and Customer Service.

    NOW- What you dont know.

    Since the merge in 2009, Ladco's Recovery Department has stopped reporting debts to the credit bureaus, as they claim that it was "a better business decision". Of course they stopped. The agreement that you signed holds about as much validity contractually as the toilet paper you use every day. The secret? STOP ANY DRAFT ATTEMPTS BY LADCO. (Usually your bank can stop any/all drafts from a specific company.) Even if this means closing your existing bank account and reopening a new one. In your lease agreement, it DOES state that Ladco may draft funds from any open bank account or line of credit associated with your Social Security Number. Ironically enough, the only way they can find "any open bank account or line of credit" is if it's a US Bank account. Ladco pushes for ACH payments each month. Contact your bank if you are set up on this system, and stop drafts from Ladco. In their collection attempts, they will threaten "legal action" or "further collection" against you if you refuse payment. Some will probably say "Your credit MAY be effected if you dont maintain your obligation". The key word there is MAY. Legally, they have to say "may", because if they threaten action but never pursue it, your attorney is going to make you a rich man. Speaking of attorney, there is no need for one. Again, save your money. There are no legal grounds in which they can claim action under, and will typically try to use your credit as leverage for negotiation for payment. You really think a company that has accumulated as much revenue as they have are going to take you to court over a $200 machine? Doubtful. They're too busy ripping off other unsuspecting businesses.

    In short- stop putting your hard earned dollars in the hands of crooks and criminals. Don't let them play the fear card. Your credit and your money will be fine, as long as you do as i've instructed above. Furthermore- Learn to treat your employees well and subtle hints and tips such as these wont ever surface about your business. :) If you have any further questions about your specific case or agreement, feel free to contact me via message. I would love to help, and there is plenty more information i can provide if necessary. So good luck and God speed! I pray that the thousands of people effected by this scam recover strongly and learn a valuable lesson in the process.

    1 Votes

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